Satellite broadband operator ViaSat has continued its bolt-on acquisition strategy in preparation for the launch of ViaSat-2 next year by snapping up Engreen, a California-based tech start-up focused on network virtualization.
ViaSat said the…
Satellite broadband operator ViaSat has continued its bolt-on acquisition strategy in preparation for the launch of ViaSat-2 next year by snapping up Engreen, a California-based tech start-up focused on network virtualization.
ViaSat said the acquisition would add management flexibility for its global satellite-ground system. Kevin Harkenrider, SVP of commercial networks at ViaSat, said: “Our investment in Engreen reinforces our commitment to the global Ka-band satellite market. This transaction will enhance our ability to rapidly create, deploy and manage services in our flexible broadband system.”
Financial details were not disclosed, with ViaSat stating that it has not completed its valuation analysis of the deal. ViaSat added that the transaction is not expected to materially affect its non-GAAP (pro forma) earnings for fiscal year 2016.
The transaction comes three months after the satellite operator purchased space-based cyber security specialist EAI Design Services. Both acquisitions are designed to bolster ViaSat’s network capabilities as it awaits the launch of ViaSat-2, which has double the bandwidth of its predecessor and seven times the coverage area, by SpaceX in mid-2016.
